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Among the financial stocks that posted the biggest moves this week, some of the usual volatile names featured prominently on the list of climbers, while the biggest losers were mostly small mid-cap banks that recently reported fourth-quarter earnings.
All in all, financial stocks went well The Financial Select Sector SPDR ETF (45) up 2.5% week ended January 27, the broader S&P 500 index posted the same increase (SP500).
The financial stock that rose the most was the Chinese fintech stock Lufax Holding (NYSE: LU), climbing 21%; coming up
Acceptance of subprime car loan (NASDAQ: CACC), +16%; CACC is scheduled to report fourth quarter results after the closing bell on Tuesday, January 31.
Axos Financial (NYSE: AX), +15%showed better-than-expected second-quarter fiscal results on Thursday, helped by an increase in net interest margin and loan growth.
Another familiar name on the list of financial startups, Brazilian digital bank Nu Holdings (NYSE: NOW), known as NuBank, drove up to 15% in a week.
American Express (NYSE:AXP) got 14% for a week as its strong guidance for 2023 and a planned dividend increase, announced on Friday, helped overcome the credit card company’s weaker-than-expected fourth-quarter results.
On the other hand, Montana-based First Interstate BancSystem (NASDAQ: FIBK) down 11%the most of any financial stock with a market cap of more than $2 billion, after its fourth-quarter earnings and revenue missed consensus estimates.
Boston-based Eastern Bankshares (NASDAQ: EBC) down 9.3% as higher interest costs hit its earnings and outlook.
Dewitt, New York-based Community Bank System (NYSE: CBU) down 8.3% as its fourth-quarter earnings per share on a non-standard basis beat analysts’ average estimate, but revenue fell short of expectations.
New Jersey-based Columbia Financial (NASDAQ: CLBK) down 8.0% even after the fourth quarter, GAAP earnings per share and revenue exceeded consensus estimates.
Rounding out the top five decliners, BRP Group (NASDAQ: BRP), which sells insurance products and services, down 7.5%.
On Friday, Origin Bancorp ( OBNK ) saw shares fall as much as 7% after Piper Sandler downgraded the stock to neutral.